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Public universities and impacts of COVID-19 in Australia: risk disclosures and organisational change

Accounting, auditing, & accountability, 2022-01, Vol.35 (1), p.61-73 [Peer Reviewed Journal]

Emerald Publishing Limited ;ISSN: 0951-3574 ;DOI: 10.1108/AAAJ-09-2020-4906

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  • Title:
    Public universities and impacts of COVID-19 in Australia: risk disclosures and organisational change
  • Author: Carnegie, Garry D ; Guthrie, James ; Martin-Sardesai, Ann
  • Is Part Of: Accounting, auditing, & accountability, 2022-01, Vol.35 (1), p.61-73
  • Description: PurposeThe purpose of this study is to examine the COVID-19 pandemic risk disclosures in a sample of annual reports of Australian public universities. These universities rely heavily on fee-paying onshore overseas students. Analysing these risk disclosures is essential to understanding the COVID-19 crisis and the implications for organisational change.Design/methodology/approachDocument analysis and content analysis of the 2019 annual reports of all Victorian public universities were undertaken to identify the disclosure of COVID-19 risk impacts. Applying Laughlin's Habermasian insights of change, the study explores the pathways of change adopted by universities to overcome the risk impacts. However, financial risk disclosures about income from this source were virtually non-existent.FindingsAny risk associated with COVID-19 disclosed was minimal in a qualitative, neutral and constant format. The quality of disclosures was low. Media statements, however, pointed to significant income loss and suggested a strategy of substantial cost-cutting, including employee redundancies, which we identified as morphostatic changes of universities to overcome the risk impacts.Research limitations/implicationsThe study reveals the risk associated with sector's aggressive growth strategy, jeopardising their financial viability and quality of teaching and research.Practical implicationsThe findings provide insights to the Australian higher education sector. The low quality of external risk disclosures of these universities suggests an urgent need for transformation.Originality/valueAustralian public universities play a crucial role in society. This role will be diminished by a failure to disclose and manage significant risks adequately.
  • Publisher: Emerald Publishing Limited
  • Language: English
  • Identifier: ISSN: 0951-3574
    DOI: 10.1108/AAAJ-09-2020-4906
  • Source: AUTh Library subscriptions: ProQuest Central
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